Beware of the “Reciprocal Trust” Doctrine
Having spouses’ trusts that are too similar isn’t simpatico with the IRS and may trigger unintended tax consequences.
As a business owner in the oil and gas industry, you are front and center in a dynamic marketplace. Among price fluctuations, regulatory oversight, supply chain management, cost controls, and more, you need to be agile to adjust to an ever-changing and complex environment.
Innovative Approach. Experienced Team.
Lumsden McCormick has years of experience in proactively providing assurance, accounting, tax, and consulting services to oil and gas businesses. Our talented team of certified public accountants understand the operating challenges in this unpredictable industry, and we have the expertise to provide practical, proactive solutions to help you achieve your goals.
Our oil and gas team members are at the forefront of industry developments; in fact, we receive specialized professional development on technical matters, speak at conferences on pertinent issues, and proactively engage clients throughout the year. Additionally, our membership in the BDO Alliance USA provides us with national and global resources that we can share with you to address your specific needs.
Our oil and gas industry services include:
For more information about our accounting and consulting services for businesses in the oil and gas industry, contact Michē Needham or complete the form below.
Given the proposed tax rate increase to individuals, planning will be the key to mitigate financial stress. Your key takeaways from this one-hour discussion will include planning strategies that you can implement now.Learn More